RB British Marine announces partnership with TIME Investments for the UK EIS Scheme

18 January 2016

RB British Marine has partnered with TIME Investments (www.time-investments.com) in rasing equity for vessels to be acquired under the UK Enterprise Investment Scheme. The scheme offers significant incentives to UK based individuals to invest in the dry bulk sector. RB British Marine will provide asset management and commercial and technical management services to the vessel owning companies.

RB British Marine announces partnership with TIME Investments for the UK EIS Scheme

18 January 2016

RB British Marine has partnered with TIME Investments (www.time-investments.com) in rasing equity for vessels to be acquired under the UK Enterprise Investment Scheme. The scheme offers significant in...

Reuben Brothers continues order spree

02 July 2014 - Tradewinds

Geneva-based trader Reuben Brothers has clinched more newbuildings in Asia as part of plans to boost its fleet to 50 bulkers within two years.

The company, controlled by billionaire siblings David and Simon Reuben, said it has picked Japan Marine United (JMU) for its latest kamsarmax order, after kicking off its move into shipping with an order for five ships at Sungdong in Korea earlier this year
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Director Charles Stewart-Smith told TradeWinds the exact number of vessels and options had not been finalised, but a signing ceremony was due soon in Japan.

TradeWinds understands the order would be for no more than four firm vessels, due for delivery in early 2016.

The Sungdong order had originally been for four 82,000-dwt vessels and two options, but this is now five firm bulkers with no options remaining.

The Reuben fleet is now approaching 20 dry cargo carriers, including newbuildings and managed units.

The plan is to boost this to 50 in the coming two years through a mix of new orders and partnerships.

It said the expansion reflects its confidence in the market.

The investments are being made through its RB Shipping arm, but technical and commercial management will be carried out through a recently created joint venture with British Marine, known as RB British Marine.

All the ships have been commissioned with the highest environmental specification, making them state of the art for the future of the shipping sector, it said.

The Sungdong ships have been pegged at more than $35m each.

Reuben Brothers continues order spree

02 July 2014 - Tradewinds

Geneva-based trader Reuben Brothers has clinched more newbuildings in Asia as part of plans to boost its fleet to 50 bulkers within two years.

The company, controlled by billionaire siblings Da...

Billionaire brothers get twice into active shipping

03 March 2014 - Ship 2 Shore

Switzerland-based Reuben Brothers become shipowners at once by ordering 6 bulkers and by partnering with shipowner British Marine to establish a small shipping conglomerate

It took the market quite by surprise the news that a well established leader in private equity, real estate investment, development and venture capital, albeit almost totally unexperienced in the shipping market – apart from being partner into Kristal Waters, a construction and management company of fine luxury superyachts up 70 75 meters– decided to become active shipowner at once.

In details, they commissioned 4 + 2 eco-fuel bulkers at the Tongyeong-based facility for 82,000-dwt ships, 229m long, the first two being due in the second half of 2015, second two in 2016.

According to observers, this is a bid to take advantage of low newbuilding prices and to meet the company’s growing dry bulk transport needs. Although their cost was not disclosed, market sources say 35m USD for each unit is a reasonable price.

As reported in the group’s website, that quoted an article appeared recently onTradewinds, Geneva-based company has broken into shipowning as they seek to grow mining and transport business; in fact the move compliments its trading interests which have seen it secure exclusive raw-materials export rights in Morocco and Indonesia. At the end of 2012, the company bought a 50% stake in the Ait Anmar iron ore mine brownfield project in Morocco, which was formerly closed down, and is attempting to bring the facility up to full production by this year. The iron ore will be traded through a rail link to Jorf Lasfar Port, a well-known North African dry bulk terminal used mostly by handysize and handymax bulkers but capable of accommodating kamsarmax at one berth.

Controlled by billionaires brothers David and Simon Reuben, the group is best known for its high-profile property, retail and horse-racing investments; their impressive empire already encompasses pubs, racecourses and data centres but is set to expand into shipping.

However it has a growing demand for dry bulk transport through subsidiary Reuben Brothers Resources (RBR) which conducts extensive raw-material trading and distribution businesses (iron ore, oil, coal, coke, minerals) as well as investing extensively in mining and windfarms, whose current requirement is 10 vessels per week.

Other RBR projects include the development of a metallurgical coal trade from the Tuhup 2 Coal Project in Indonesia Tuhup 2 Metallurgical Coal Project located in Central Kalimantan in Indonesia, and another Moroccan investment, Nkob Industrial Minerals, aimed at the supplying of high-grade talc, where RBR holds exclusive trading rights for the projects.

Rejoining former employer as a partner into RB British Marine

Simultaneously, RBR agreed a joint venture with British Marine, London Shipping Ltd's Asset Manager, a private shipowner and operator with an existing fleet of 8 vessels with a 14 year track record of successfully operating mid-size bulk carriers under the UK flag and Tonnage Tax regime. The company was originally set up in 1999 by CEO Alan Bekhor, currently owner with 92.5% shares, who previously worked with Reubens Brothers in the 1990s at their subsidiary Trans-world Metals, an aluminum company which at its peak produced one third of the world’s aluminum.

The London Shipping Limited EIS Offer presents an opportunity to invest in the anticipated long-term revival in the shipping market through the acquisition of a Handymax vessel.

The new joint venture, a ship-management and trading company, is named RB British Marine, “which will aim to build up a powerful shipping franchise due to offer services not only the existing fleets respectively controlled by the joint-venture partners, but will also target vessels controlled by third parties” says the company in a note.

British Marine plc, headquartered in London and with offices in Mumbai, India and Singapore, is part of Britmar, a diversified international investment and trading group with interests in shipping and logistics, mining and power generation.

It was formerly known as Verney Services Ltd, operating within a group of companies under common control, known as the Ocean Bulk group of companies, which included Ocean Bulk Carriers (OBC) Ltd, the flagship and main trading company within the group, until in February 2007 a reorganisation of the group took place; as part of it, all the shipping interests of the Ocean Bulk Group, including the entire business of OBC was transferred to British Marine plc.

The group was one of the first to enter the UK tonnage tax regime which was established in 1999 and as a matter of policy has always maintained its owned fleet under UK flag. The company's first piece of business was to place an order for a new building 48,000 dwt handymax bulk carrier, subsequently delivered in 2001 under the name Britannia. Since then the group has been steadily developing its fleet of owned ships through timely and selective acquisitions and disposals.

The latest acquisition in November 2011 was the Diamond Jubilee, a 56,127 dwt supramax vessel, built at much trusted (4 ships built) Mitsui Engineering and Shipbuilding yard in Tamano, Japan.

Investment Platform for commodities

Reuben Brothers Resources (RBR), owned by Reuben Brothers SA and acting as a holding company for investments in businesses ranging from metals trading and distribution to oil trading, mining and wind farms, is the investment platform from which Reuben Brothers make investments in the natural resources industry.
RBR’s strategy is to participate in the entire commodity value chain from mine production to the end user customer. An important aspect of this is the control over key commodity infrastructure including storage, transportation and shipping aspects.

“In our ever expanding raw materials business, we finance and ship millions of tons of steel-making feedstock every year with particular emphasis on iron ore, coal, coke, alloys and pig iron originating from India, Russia, Ukraine, USA, Middle East, Africa, South East Asia and South America.

The emphasis is on iron ore, coal, coke and ferroalloys but we also trade in a comprehensive portfolio of products, shipping a minimum of 25 vessels a month while, at times, business can dictate that our global operations are loading up to 10 vessels in one week” says the company. “This is a rapidly expanding part of our business and our group owns several mines and we have numerous joint ventures with mines and ports using a combination of financing and logistics. Typically this is controlled by our London headquarters in partnership with local representative offices and staff who ensure quality of product, efficiency of delivery and financial security for the producers”.

Across the oil and gas, manufacturing, agricultural, construction, automotive, domestic, food, and specialist industries, RBR is a leading global supplier of the full range of semi-finished, flat, long and scrap products for use in a wide range of applications.

“We provide a broad variety of raw materials for the ferrous and non-ferrous metals industries, including iron ore, coal, coke and ferro alloys, but our role goes far beyond that of supplier with a portfolio of services and expert guidance designed to ensure we are the partner of choice”.

RBR holds stock in USA, UK, mainland Europe and other major ports worldwide allowing to minimise the lead time associated with producing and shipping steel.

Erus Metals Limited (EML) was incorporated in England and Wales to provide the highest quality global warehouse storage for base metals such as aluminium, lead, copper, nickel, zinc, tin and steel. The company specialises in inside and outside metal storage as well as services such as stock control, LME warranting and the provision of solutions to its clients metal warehousing needs.

EML has LME warehouse operations in Hull (United Kingdom) and Antwerp (Belgium) where it provides stevedoring, break-bulk facilities and storage for both ferrous and non ferrous metals. The company is rapidly expanding into new geographic areas, including the Far East and the USA.

Brothers in business

In Forbes list of billionaires 2013, David and Simon (three years younger) Reuben were placed second wealthiest persons in the UK. They are very shy to the media: only Simon given just one interview to a British publication in his entire career and not on a voluntary basis.

The British businessmen and philanthropists were born to a prosperous Baghdadi Jewish family in Bombay, India, in the 40s. The family, which had run various businesses across the Indian Subcontinent from their base in Bombay, emigrated to Britain in the early 1950s. The brothers increased their fortune during the 70s and 80s in both metals trading and property. Nearly half their fortune is in liquid assets such as cash and bonds. In the early 90s the brothers invested in the Russian metals market to become the world's third-biggest producer of aluminum. During their ten years in the country the Reuben Brothers did business with some oligarchs such as Roman Abramovich – not by chance they both follow Chelsea FC - but also settled a multi-million pound legal dispute with Oleg Deripaska which resulted in a substantial settlement being awarded to Reuben Brothers.
In 2008 Reuben Brothers returned to the metals business acquiring the metal trading company, RB Metalloyd, and formed the new dedicated natural resources platform RBR. As of 2013 their business activities mainly involved real estate both in the UK and abroad, venture capital, and private equity.

Billionaire brothers get twice into active shipping

03 March 2014 - Ship 2 Shore

Switzerland-based Reuben Brothers become shipowners at once by ordering 6 bulkers and by partnering with shipowner British Marine to establish a small shipping conglomerate

It ...

Reuben Brothers Breaks into Shipowning

24 January 2014 - Tradewinds

Billionaire siblings invest in bulker newbuildings at Sungdong as they seek to grow mining and transport business.

Geneva trader Reuben Brothers has broken into shipowning in a move that compliments its growing mining and bulk trading interests, which have seen it secure exclusive raw-materials export rights in Morocco and Indonesia.
This week's investment in six kamsarmax bulkers at South Korea's Sungdong Shipbuilding & Marine Engineering is being viewed in the market as a bid to take advantage of low newbuilding prices and to meet the company's growing dry bulk transport needs.

Reuben Brothers, controlled by billionaires David and Simon Reuben, has commissioned four firm eco-fuel bulkers and two options at the Tongyeong-based facility. Two of the 82,000-dwt ships are slated for delivery during the second half of 2015 and two in 2016.

The cost of the newbuildings has not been disclosed but market players indicate Sungdong has been seeking more than $35m apiece for the kamsarmaxes.

The last time a Korean yard secured a kamsarmax order was in May last year when Suisse-Atlantique booked a trio at Hyundai Mipo Dockyard at $33.48m each.

Reuben Brothers is best known for its high-profile property, retail and horse-racing investments.

But it also has a growing demand for dry bulk transport through subsidiary Reuben Brothers Resources (RBR) Trading, which conducts extensive raw-material trading and distribution businesses including iron ore, oil, coal, coke and minerals, as well as investing extensively in mining and windfarms.

Brokers say RBR's trading volumes require around 10 vessels per week but that is set to grow. At the end of 2012, the company stepped up its interest in mining when it bought a 50% stake in the Ait Anmar iron ore mine in Morocco.

The company has revived the mine, which was formerly closed down, and is attempting to bring the facility up to full production by this year. It also has an exclusive deal to market Air Anmar's exports.

The iron ore will be traded through a rail link to Jorf Lasfar Port, a well-known North African dry bulk terminal used mostly by handysize and handymax bulkers but capable of accommodating kamsarmaxes at one berth.

Other RBR projects include the development of a metallurgical coal trade from the Tuhup 2 Coal Project in Indonesia to Asia, and another Moroccan investment, Nkob Industrial Minerals, aimed at the supplying of high-grade talc. Again, RBR holds exclusive trading rights for the projects.

There is also a growing trend of cash-rich commodity traders taking advantage of the current shipbuilding market to invest in newbuildings. Traders that have seized the opportunity include SwissMarine, with an order for six capesizes at Japan Marine United, and Trafigura booking up to six newcastlemaxes at China's Yangfan Group.

Reuben Brothers Breaks into Shipowning

24 January 2014 - Tradewinds

Billionaire siblings invest in bulker newbuildings at Sungdong as they seek to grow mining and transport business.

Geneva trader Reuben Brothers has broken into shipowning in a move that compli...

Reubens to Make Waves in Shipping

19 January 2014 - Tradewinds

The billionaire Reuben brothers are launching into the shipping business in an attempt to cash in on Asia's appetite for raw materials. David and Simon Reuben, whose empire spans data centres, pubs and racecourses, have agreed a joint venture with British Marine, a private company with a fleet of eight vessels. The tycoons have placed an order to double the size of the fleet at a cost of more than $200m (122m).

British Marine is run by Alan Bekhor, who worked for the Reubens during the 1990s at Trans-world Metals, the aluminium business which, at its peak, produced a third of the world's aluminium. Since then the Reubens main focus has been Global Switch, a chain of data centres that is expected eventually to float on the stock market.

Reubens to Make Waves in Shipping

19 January 2014 - Tradewinds

The billionaire Reuben brothers are launching into the shipping business in an attempt to cash in on Asia's appetite for raw materials. David and Simon Reuben, whose empire spans data centres, pubs an...